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Apple iPhones Tax Updates in Pakistan After Budget 2024–25

Apple iPhones Tax Updates in Pakistan After Budget 2024–25

Apple iPhones Tax Updates in Pakistan After Budget 2024–25

Apple iPhones Tax Updates in Pakistan After Budget 2024–25

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  • Pakistani government plans new taxes on mobile phones, including Apple iPhones.
  • The 25% tax increase on premium smartphones, like Apple iPhones.
  • The Finance Bill 2024 aims to boost government revenue by taxing imported luxury goods.
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The Pakistani government has suggested new taxes for mobile phones, including Apple iPhones, in the budget for the fiscal year 2024–25. Once parliament approves these changes, they will start on July 1, 2024, causing Apple iPhones to become more expensive in the local market.

Key Highlights of the Proposed Tax Rates:

  1. 25% Ad Valorem Tax on High-End Smartphones:
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  • Imported smartphones priced above $500, including Apple iPhones, will be subject to a 25% ad valorem tax.
  • This category includes popular models like iPhone 11, iPhone 13, iPhone 14, iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max.
  1. Standard 18% Sales Tax on Other Phones:
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  • Smartphones priced below $500 will incur a standard 18% sales tax.
  • Locally manufactured and supplied smartphones will also face an 18% tax rate.

Impact on Apple iPhone Prices:

Since Apple doesn’t operate directly in Pakistan and its products are imported, the proposed 25% tax hike on premium smartphones is likely to result in a notable price surge for Apple iPhones. Customers should brace themselves for increased prices on the newest iPhone models beginning July 1, 2024.

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Detailed Price Implications:

  • iPhone 11: Already a popular choice, the price of this model will see a notable increase.
  • iPhone 13: As a high-demand model, expect a significant price hike.
  • iPhone 14: The latest in the market, this model’s price will surge, impacting early adopters.
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  • iPhone 15 Series: Including iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max, these models will experience a steep rise in prices, making them considerably more expensive.

The tax adjustments outlined in the Finance Bill 2024 are designed to raise income from imported luxury goods. While this strategy can enhance government revenues, it will also drive up the prices of high-end smartphones, especially Apple iPhones, for Pakistani consumers. Local smartphone producers and suppliers will also be affected by the 18% tax, although to a lesser extent than importers of luxury devices.

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